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France to provide 30 mil euros for green energy in Sri Lanka

May 04, 2017 (LBO) - Sri Lanka will enter into a loan agreement with the French Agency for Development (AFD) to fund projects for green energy development and energy efficiency improvement investment.
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"AFD has agreed to provide 30 million Euros to bear a portion of the total cost of US 260 million dollars which is implemented under 3 sub-projects," a statement on approved cabinet decisions said. "The funds will be obtained from AFD for tranche 2.
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" The Cabinet also approved an agreement for establishment of a new office of the AFD in Sri Lanka and to award them the diplomatic status. AFD serves about 60 countries in four continents through grants and concessionary loans.
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An office of the AFD was established attached to French Embassy in 2005 and several projects have already been implemented by that office in priority fields.
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The proposals were made by Prime Minister Ranil Wickremesinghe in his capacity as the Minister of National Policies and Economic Affairs.

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